EPA Announces Availability of $2.6B of Funding for Water Infrastructure
The U.S. EPA announced the availability of more than $1 billion in new federal grant funding for the Drinking Water State Revolving Fund and $1.6 billion in new federal grant funding for the Clean Water State Revolving Fund. The funds can assist states, tribes and territories with improving drinking water and wastewater infrastructure across the country.
Racine, WI Brewing Co. to Expand Wholesaling Thanks to RLF
Racine Brewing Co. will increase its wholesaling business much sooner than owners Andy and Angie Molina ever expected, pending the awarding of a requested $34,800 loan from the city. The new brewing system will be more efficient than their existing one and increase the volume of beer they can produce by about 40 percent, the Molinas estimate.
$8M in Supplemental Funds Made Available by EPA for Brownfields RLFs
The EPA approved $8 million in additional funds for fiscal year 2019 to supplement existing Brownfields RLF grantees who made a loan or subaward and have substantially depleted loan funds. While additional funds have been made available this fiscal year, those funds are supplemental funds for existing RLF grantees.
$84M in Green Bonds Issued for Drinking Water in CA
California State Treasurer Fiona Ma announced the sale of $83.9 million in revenue bonds to provide financial assistance to local governments for safe drinking water projects. The sale represents the inaugural issuance of bonds by the California IBank for the Drinking Water State Revolving Fund Program.
DJA Gets Grant to Study Loan Fund for Historic Buildings
The 1772 Foundation, a nonprofit organization that works to preserve historic structures, gave DJA $20,000 to hire Heritage Strategies and Heritage Consulting to examine whether a loan fund would help spur developments to preserve some of the many historic properties in Joplin.
Food Hall Receives Loan from Economic Development RLF
City Council members approved subordinating $390,000 to convert a construction loan to permanent financing to help complete building a food hall in the Murrah Federal Building recovery area near downtown. The commercial property was appraised in February with an "as-is" market value of $5.8 million and an expected value of $6.3 million upon completion.
Fort Atkinson, WI Plans Closure of Revolving Loan Fund Program
To conform with state and federal oversight of the revolving loan fund program, the Fort Atkinson City Council has approved a closure process for the program. The State of Wisconsin, which administers the federal funds, is shutting down the RLF due to numerous problems through the years with meeting the requirements for the loan money.
Tuscaloosa, AL to Borrow $27M for Water Projects
The $27.12 million in loans obtained through the Alabama Department of Environmental Management's State Revolving Loan fund will be repaid over 20 years at an interest rate of 2.2 percent. The loans are divided among the Clean Water State Revolving Fund, which pertains to sewer-related projects, and the Drinking Water State Revolving Fund, which funds drinking water work.